With the Brexit vote looming, Jelf Employee Benefits has commissioned a survey about the preparedness of UK businesses from the perspective of HR and finance professionals.

61 percent of HR and finance staff questioned say that their organisation has not formally considered the impact of an exit vote in the EU referendum. Only two percent stated that their organisation has plans in place for such a decision; 11 percent have started to consider the issue but have not yet undertaken any planning and four percent think that the issue will not impact upon their organisation. 

Steve Herbert, head of benefits strategy, Jelf Employee Benefits, said: “The Brexit issue is a very Rumsfeldian conundrum – how to prepare for unknown unknowns is occupying the thoughts of many businesses across the country right now. However, six out of ten HR and finance professionals say that their organisation has not yet considered the issue.” 

It would be prudent for employers to take time to consider actions for either outcome. Keeping communication channels open is going to be important. Organisations which have a significant number of staff who may feel a Brexit will impact on their employment status may want to consider an internal communications strategy to discuss the impact with them after the vote next month. 

Steve Herbert continued: “If the UK does vote for Brexit then guesstimates are that it will take up to two years for UK employers to really know where they stand on various EU issues and that uncertainty may affect recruitment and retention. Employees aren’t expecting a crystal ball but they are likely to want their employers to actively seek answers on their behalf and stay abreast of changes, so open communication will be important.” The research was undertaken between February and April 2016 amongst 291 HR professionals.

Q1:  Has your company considered the impact of an exit vote in the EU referendum?                                      

Yes:  We have plans in place for such a decision                                         2.41 percent

Yes:  We have considered but not yet undertaken planning                       11.00 percent

No:  We have not yet formally considered this                                             60.82 percent

Don’t know                                                                                                     21.65 percent

N/A:  This issue will not impact our organisation                                             4.12 percent